Why Oneok Fell Today

分组1 - Oneok's shares fell by as much as 7% before recovering to a 4.9% decline following the earnings report, despite beating Wall Street expectations for the fourth quarter [1] - In Q4, Oneok reported revenue of $9.07 billion and adjusted earnings per share (EPS) of $1.55, although the adjusted EPS declined slightly compared to the previous year due to adverse winter weather [2] - For 2026, Oneok forecasts adjusted EBITDA of $8.1 billion, which is only marginally higher than the $8.085 billion recorded in 2025, indicating limited profit growth [3] 分组2 - The company anticipates volume increases in the upcoming year but expects pricing pressure from lower hedged natural gas prices and location differentials, influenced by supply competition [4] - Despite high demand for natural gas from AI data centers and LNG exports, warmer temperatures due to climate change may offset this demand, as natural gas is traditionally linked to heating needs [7] - Oneok's dividend yield is projected to remain stable at 4.8%, supported by its fee-based revenue model and strong market position in regions with significant data center activity [8]